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The second quarter resulted in record-high revenues for Mowi, driven by strong
biological and operational performance, as well as record-high harvest volumes.
Combined with lower costs, this resulted in operational EBIT of EUR 231 million,
an increase of 23% compared with the corresponding quarter in 2025.
“Farming operations continue to deliver very strong biological and operational
results. In particular, our Norwegian and Scottish operations are performing
strongly, with record volumes and reduced costs, which is very encouraging,”
said Mowi CEO Ivan Vindheim.
Mowi delivered a seasonally record-high 150,000 tonnes of salmon in the second
quarter, representing a year-on-year increase of 7.4%.
“It is gratifying to see that we continue to deliver on our growth strategy.
Volume growth is one of Mowi’s strategic pillars, and growth within our farming
operations has been strong in recent years. In just a few years, Mowi has grown
from a 400,000-tonne producer to a 600,000-tonne producer,” said Vindheim.
Following a period of low salmon prices due to exceptionally high industry
supply, salmon prices increased by 6% in the second quarter and have increased
by 21% so far in the third quarter compared with 2025, driven by strong demand
across many markets and a normalisation of supply growth in the industry.
“We expect limited supply growth for the industry in the years ahead. In
combination with continued strong underlying demand for salmon, we believe this
will result in a more balanced supply-demand situation than we have seen over
the past 18 months, supporting our positive market outlook going forward,” said
Vindheim.
Mowi Consumer Products, the Group’s downstream processing business, delivered
another strong quarter with seasonally record-high revenues, supported by solid
operations and record-high volumes of 74,000 tonnes, up 14% from the same period
last year.
“The salmon market continues to develop positively and demand value increased by
9% in the second quarter compared with the same period last year. Growth is
strongest in Asia, led by China, but developments are also positive in Europe,
followed by the USA. We expect market growth to continue through 2026 and
beyond, driven by megatrends such as healthier lifestyles, increasing demand for
sustainable protein sources, and not least salmon’s unique and broad appeal,”
said Vindheim.
Mowi Feed, the Group’s feed division, also delivered a record quarter with
seasonally record-high revenues and sales volumes, driven by strong growth in
the company’s farming operations.
The board of Mowi has decided to pay a dividend of NOK 2.30 per share for the
second quarter.
For more information, please contact:
Kristian Ellingsen, CFO, +47 905 14 275
Kim Galtung Døsvig, IR Officer & Head of Treasury, +47 908 76 339
Ola Helge Hjetland, Communications Director, +47 970 67 932
About Mowi ASA
Mowi is the world’s leading seafood company measured by revenues and market
capitalisation, and the largest producer of farm-raised Atlantic salmon in the
world, with an estimated 2026 harvest of 600,000 tonnes from seven farming
countries including Norway, Scotland, Ireland, Faroes, Iceland, Canada and
Chile.
Mowi is a fully integrated global seafood company, bringing salmon and other
seafood of supreme quality to consumers around the world, partly under its own
MOWI brand.
Mowi has received extensive acclamations for its sustainability work across the
value chain.
With headquarters in Bergen, Norway, Mowi employs 11 500 people in 26 countries
worldwide, and is listed on the Oslo Stock Exchange. Turnover was EUR 5.7
billion in 2025.
For more information, please visit mowi.com.
Forward looking statements
This release may be deemed to include forward-looking statements, such as
statements that relate to Mowi’s goals and strategies, salmon prices, ability to
increase or vary harvest volume, production capacity, trends in the seafood
industry, restructuring initiatives, exchange rate and interest rate
fluctuations, expected research and development expenditures, business prospects
and positioning with respect to market, demographic and pricing trends,
strategic initiatives, and the effects of any extraordinary events and various
other matters (including developments with respect to laws, regulations and
governmental policies regulating the industry and changes in accounting
policies, standards and interpretations) on Mowi’s business and results.
Forward-looking statements are typically identified by words or phrases, such as
“believe,” “expect,” “anticipate,” “intend,” “estimate,” “may increase,” “may
fluctuate,” “plan,” “goal,” “target,” “strategy,” and similar expressions or
future or conditional verbs such as “may,” “will,” “should,” “would,” and
“could.” Forward-looking statements are Mowi’s current estimates or expectations
of future events or future results. Actual results could differ materially from
those indicated by these statements because the realization of those results is
subject to many risks and uncertainties. Mowi ASA’s Annual
Report contains additional information about factors that could affect actual
results, including: changes to the price of salmon including the value of our
biological assets; hedging risks; risks related to fish feed; economic and
market risks; environmental risks; operational risks; risks related to escapes,
disease and sea lice; product risks; risks related to our acquisitions;
financing risks; regulation risks including relating to food safety, the
aquaculture industry, processing, competition, anti-trust and anti-corruption;
trade restriction risks; litigation risks; tax and accounting risks; strategic
and competitive risks; and reputation risks. All forward-looking statements
included in this release are based on information available at the time of the
release, and Mowi assumes no obligation to update any forward-looking
statement.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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